#Smallbizchat podcast live is a monthly video chat where small business owners can get their questions answered.
The #Smallbizchat Podcast LIVE focus is on ending small business failures by helping participants succeed as their own bosses.
join me live SmallBizLady Facebook page Or my YouTube channel.
Sara Durham is an entrepreneurial and creative consultant with a passion for helping entrepreneurs. She founded her Big Duck in 1994 to help nonprofits raise awareness, raise funds, and communicate more effectively. She now serves on the board of directors after she sold the business to Big Duck employees in 2021. Sarah is currently an entrepreneur, non-profit leader, and woman in leadership roles through her company Compton Durham, LLC. For more information: https://www.comptondurham.com/
SmallBizLady: What made you decide to sell the company to your employees?
Sara Durham: I owned two businesses. One built from scratch and one purchased. For what I built, I intended to sell it in a 10-year timeframe, and I sold it to my employees after 11 years. I set a goal to sell what I got in 2-3 years, and after 2 years I sold it to another agency.
In the business I founded, employee ownership was an affordable way for employees to buy businesses in a fair way. It wasn’t just one or two special employees who could afford it. It was everyone, regardless of financial means. It was very persuasive to me and very much in line with the company’s values.
SmallBizLady: What did you struggle with in transitioning to an employee stock ownership plan?
Sara Durham: I moved from my day-to-day life to my seat on the co-op board. For those who would become members/owners, one of her first one year assignments was to fly the plane and rebuild it at the same time. The process of restructuring a business requires time to question, challenge and rethink all business practices while actually doing the work.
SmallBizLady: What advice would you give to business owners who want to know more about employee ownership?
Sara Durham: As a current business owner, I really had to step away from the company. I was and still am heavily invested in Big Duck employees and their success as a cooperative, but I had to give them space to think about this separately from me. It was very healthy for everyone, but it was hard to start moving away from one team when we were used to it.
In all of that, having an objective expert by your side really helps.of EO equals The campaign is a great resource for owners looking for more information and their website can connect you with experts in your state.
How to choose a winning franchise to own
Joel Libava, The Franchise King®, is a franchise veteran with over 20 years of experience and the author of two books on how to buy and research franchises. In addition, he is also a Franchise Ownership Advisor and he works one-on-one with people who want to consider franchise ownership in the safest way possible. He also owns and operates the franchise’s longest-running blog. www.thefranchiseking.com
SmallBizLady: First, what does “” mean?victoryFranchise?
Joel Ribaba: Winning franchise opportunities come in three flavors.
First and foremost, it is a powerful and easy-to-implement business system for franchisees.
Second, winning franchise opportunities offers a fairly predictable path to profitability, along with concrete and proven ways for franchisees to grow their businesses.
Finally, winning franchises will provide responsive franchise support through the combined use of technology, along with experienced and knowledgeable support staff at headquarters.
SmallBizLady: What do you mean by easy-to-implement system?
Joel Ribaba: By definition, franchise concepts should be easily reproducible.
So, in a perfect scenario, if you buy a restaurant franchise, everything you need to open and run the franchise is covered in the franchise operations manual.
A manual written by the founders that documents everything they did during the creation of the franchise concept and is ready for reproduction. again and again.
SmallBizLady: How can a franchise offer a fairly predictable path to profitability?
Joel Ribaba: Since each franchise unit is built identically (aside from deviations such as square footage and lease costs) and covers roughly the same expenses, predicting the break-even point is fairly straightforward. Franchisee profitability.
And the way would-be franchisees get these break-even and profitability numbers is by contacting existing franchisees as part of their research. They need to ask these questions at the right time and in the right tone.
How to build an iconic brand
Brandi Mitchell is known as the ‘Brand Producer’ for her creative ability to blend entertainment, marketing, inspiration and storytelling into bankable brands. As President of Koris Media, she helps the top 2{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c} of U.S. professionals, entrepreneurs, consultants, coaches, and organizations to build iconic brands, level up their positioning, and build powerful packaging. It’s a “secret sauce” to choose from when. She increases their visibility. She is the founder of the Produce Your Own Brand Method and a four-time author and filmmaker. More information: https://www.brandimitchell.com/
SmallBizLady: How did you start your business?
Brandi Mitchell: I have spent over 20 years as a makeup and hair artist for celebrities and have worked to maintain the artist’s image and brand. So I worked in television, film, print, and was a personal artist and confidant to many of today’s top talent. I became interested. That desire has led to writing books, making documentaries, branding, and starting media companies. Now, I am using my years of experience in the industry to elevate entrepreneurs, coaches, and consultants to become industry celebrities!
SmallBizLady: What’s your number one tip for professionals who want to build an iconic brand?
Brandi Mitchell: Find out what makes you different and lead it. In an insta-famous world where there’s a lot of overlap, those who really understand what’s different and build stories around it stick out like thumbs. To do. That is, to appear as the original, not as a copy.
SmallBizLady: What are you Want to create your own branding method?
Brandi Mitchell: The PIOB Method is a six-step process that helps visionary leaders stand out in their industry.
I help them position themselves to the highest level.
‘R’ is a reminder of who we are, what we do and who we serve. That’s when we need to reorganize, because often times we may be off track or working on an earlier version of ourselves instead of the 2.0 version of ourselves.
The “O” creates a cohesive presence throughout. This is about looking at every brand touchpoint and making sure every piece speaks the same thing and aligns with the best version of yourself.
‘D’ Create content that is relevant and relevant to your goals.
“U” relentlessly embraces their elevated brand.
Create an image that revitalizes the “C” brand,
When “E” does this, it increases brand and presence. I teach this through courses, live productions and coaching.
SmallBizLady: How important is marketing and networking as a brand strategy?
Brandi Mitchell: Networking is so important! After all, people have to know what you’re doing. I can’t keep you secret. You need to build relationships and demonstrate your expertise. Your dream clients should feel like they know you. They do it through your marketing and the way you connect with them. , you have to have a mindset of sharing and helping others. So it’s an exchange and a win-win for everyone.
Were these interviews helpful? Tell us how they were helpful.
Would you like to be a guest on #Smallbizchat Live?
If you’re a small business owner, author, or subject matter expert, we’d love to have you as a guest on #Smallbizchat LIVE. Submit your name, headshot, Twitter handle, bio, website, topic, and 3 questions and answers in paragraph format to demonstrate your expertise. How to submit materials as a guest on #Smallbizchat click here.
